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YaBB and Ikonboard have their own strengths and weaknesses, but they're both very decent boards. I haven't tried either of them myself however, so I can't speak from personal experience.

As far as free message boards go, my favorite at this point is phpBB. It has only been out for a few weeks and is still in beta (first release expected Nov. 15), but it is coming along nicely, plus it's in PHP!

Somone hacked in and deleted all the posts, gave himself admin functions and pointed out all the loopholes. I hear you could have gotten the master admin name by just typing some sort of command line into the 'e-mail' field when registering. I immeditly moved to ikonboard and love it.